16% of Parents Say Having Kids Prompted Them to Do This Important Thing

 

16% of parents say that their children made them do this important thing

My life before children was very different from what it looks like now. Back then, my husband and I could pick up and travel whenever we wanted, provided we had the money. Nowadays, every trip we take has to be carefully planned to avoid conflicts with school, sports and other activities.

Having kids also took a significant toll on my downtime. On those days when I'm not working, I'm usually transporting the kid to an after-school activity, carpooling to a birthday party, or generally spending time with my kids and taking care of their needs.

Featured Offer: Save money on paying off debt with one of these top-rated balance transfer credit cardsI wouldn't trade any of that for the world. But there are times when I can't help but bemoan how expensive life is since I have kids.

Between the costs of camp, health care, food and clothing, my husband and I spend a small fortune raising our gang of little people. And we've also made it a point to beef up our emergency fund since we had kids, because you never know when one of them might come up with a big expense (like the huge medical bill we recently received after treating my daughter's broken finger ).

It's no wonder that a recent survey by Policygenius found that 26% of parents said they would have less debt if it weren't for their children. But 16% have also taken one important step since bringing children into their world.

Having children prompted 16% of parents to build an emergency fund. And that's a smart thing to do when you have kids.It's true that having money in a savings account is important whether you're a parent or not. But if you have kids, that opens the door to a lot of bills, some of which may be unavoidable.

Take medical bills for example. If your child is sick, you pretty much have to take them to the pediatrician or urgent care. Now, if it only happens once a month, your earnings can cover the cost. But if you have multiple children and each of them will need to see the doctor within the same four weeks, you may need to tap into your cash reserves to cover your costs.And we mustn't forget childcare expenses either. These could eat up a large portion of your income, so having money in the bank to draw on is a useful thing.

Plus, you never know when you might lose your job or see your income drop. That's a stressful enough situation when you have to cover only your needs. But if you have to meet the needs of your children, such a situation will be even more difficult. So you need an emergency fund to save you.

How much emergency savings do you need?

As a general rule of thumb, it's best to have enough money in your savings account to cover your essential bills for at least three full months. But when children are involved, going beyond this point is definitely not a bad idea.

Of course, having kids can make it harder to build emergency savings because you're likely spending a lot of money on them. So if you're still childless but expect to have children in the coming years, take the opportunity to build up your cash reserves while you can. That way, you can focus more on raising your children and spend less energy worrying about money when your bills inevitably start to mount.

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Parenthood is a transformative journey that brings countless joys, challenges and responsibilities. As parents, we constantly strive to provide the best for our children while navigating the complexities of modern life. According to recent research, a significant percentage of parents, 16% to be exact, have experienced a profound transformation since welcoming their children into the world. This article delves into an important aspect that parents prioritize for the impact of parenting. Let's explore how having children prompts this fundamental change and its importance in shaping their lives.

The Transformative Power of Parenting:

Becoming a parent is a life-changing event that changes perspectives, priorities, and behaviors. It is fascinating to note that 16% of parents experienced a significant shift in their lives that made them embrace an important aspect that they may have previously overlooked. The journey of raising children often instills a sense of responsibility, nurturing instincts and a desire to make a positive impact on the world.

Health and wellness priority:

One of the most common aspects that parents prioritize after the birth of their children is their own health and fitness. Parenting forces individuals to be the best version of themselves and set a positive example for their children. This shift is especially important in today's busy and stressful world, where self-care often takes a backseat to other commitments. By prioritizing their well-being, parents can improve their physical and mental health and ensure they have the energy and resilience to effectively care for their children.

Adoption of financial planning:

The financial side of parenthood is undeniable. From spending on education to ensuring a secure future for children, parenting often leads parents to be more financially savvy and forward thinking. The responsibility of raising a family encourages parents to create a comprehensive financial plan, including savings, investments and insurance, to secure their children's future and provide them with a stable upbringing.

Further education:

Parenting instills a desire for knowledge and growth. A significant percentage of parents experiencing this transformational shift prioritize further education and personal development. Whether it's pursuing higher studies, enrolling in skills-enhancing courses, or keeping up with current trends, parents want to be knowledgeable and well-informed individuals. This proactive approach allows them to be effective mentors and role models for their children.

Prioritizing quality family time:

Modern life often comes with distractions, so quality family time is a scarce resource. However, parenthood leads parents to prioritize spending precious moments with their children and loved ones. Realizing how quickly children grow and how precious each moment is motivates parents to create lasting memories and strengthen family bonds through shared experiences and activities.

Parenthood is a transformative journey that has a profound impact on parents. According to recent research, 16% of parents experience a positive shift, leading them to prioritize key aspects of life. Parenthood motivates individuals to become more responsible and aware, whether it's adopting better health and wellness practices, focusing on financial planning, continuing education, or prioritizing quality family time. This transformation not only shapes the lives of parents, but also affects the upbringing of their children and creates the basis for a brighter and more fulfilling future for the whole family.